Pre Market Analysis: Dalal Street may open lower; TCS, Tata Motors, HAL and JSPL in news

Market Opening - An Overview

SGX Nifty futures were trading 0.18% lower at 17,864, signalling that Dalal Street was headed for a negative start on Monday.

Asian share were trading lower on inflation and worries and ahead of a host of central bank meetings. Japan’s Nikkei fell 0.71%, Topix was down 0.61%. China’s Hang Seng dropped 2.53% and CSI 300 plunged 2.66%. 

The Indian rupee rose 6 paise to 75.89 against the US dollar on Monday.

FII/DII Trading Data (8-4-2022)

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Tata Consultancy Services, Birla Tyres, Delta Corp, Elnet Technologies, Kesoram Industries, and Lasa Supergenerics

Stocks in News Today

Tata Consultancy Services (TCS): A TCS-led consortium has bagged a Rs 550 crore order from BSNL for deploying indigenously-designed 4G network, an official source said. The TCS consortium will initially deploy 6,000 mobile towers for BSNL 4G services.

Tata Motors: The company’s subsidiary Jaguar Land Rover (JLR) said its retail sales declined by 36 per cent to 79,008 units in the fourth quarter of 2021-22 fiscal as compared with same period last year due to semiconductor shortage. Retail sales for the fiscal year ending March 31, 2022 were 3,76,381 units, down 14% as compared to the year-ago period.

Hindustan Aeronautics Ltd (HAL) and Larsen & Toubro Ltd (L&T): HAL and L&T consortium has turned out to be the lowest price bidder for making five Polar Satellite Launch Vehicle (PSLV) XL variant rocket out of the three who had bid, said a space sector official. With this, the transfer of PSLV-XL production outside of Indian Space Research Organisation (ISRO) moves a step forward.

JSPL: The company has plans of setting up a coal gasification plant at its Raigarh plant in Chhattisgarh, company’s MD V R Sharma said. The company is already using the coal gasification technology to produce steel at its plant in Angul, Odisha.

GTPL Hathway: The digital cable TV and broadband service provider said its profit after tax for March 2022 quarter declined 4.3% YoY to Rs 54.5 crore and revenue fell 17.5 YoY to Rs 617.3 crore compared to the year-ago period largely due to fall in EPC project business.

Shoppers Stop: The company has completed the sale of 19.5percent of its stake in Crossword Bookstores. Accordingly, the company’s equity stake in Crossword stands reduced to 29.50 percent. In October 2021, Shoppers Stop had sold 51 percent stake in Crossword.

Sobha Ltd: The realty firm’s sales bookings rose by 23 per cent to Rs 3,870.2 crore during the 2021-22 financial year on higher volumes driven mainly by low-interest rates on home loans. According to a quarterly operational update, in terms of value, Sobha’s sales bookings grew to Rs 3870.2 crore from Rs 3,137.2 crore. The average price realisation improved to Rs 7,883 per square feet from Rs 7,817 per square feet.

Veranda Learning Solutions: The company will make its debut on the bourses on April 11.